RCOM stock price surges after SC order on spectrum trading deal
The Supreme Court on Friday ordered the Department of Telecommunications to grant a no-objection certificate to Reliance Communications's (RCOM) spectrum trading deal within seven days.
"The spectrum trading transaction will now be completed and RCOM will pay-off Ericsson and minority investors of Reliance Infratel Limited (RITL). RCOM's asset monetization program thus proceeds as per plans."
Shares of RCOM on the BSE rose by Rs 1.52 or 11.92 per cent to Rs 14.27 on Friday.
(With inputs from agencies.)